BNP to acquire rest of Exane - report

Thursday, 11. March 2021 08:38

BNP Paribas SA has offered to buy the remaining part of the stake in the investment firm Exane, the head of corporate and institutional banking at BNP, Yann Gerardin said to the Financial Times on Thursday. BNP already owns a 50% share in Exane.

The French international banking group hopes to iron out the details of the deal with Exane shareholders during the second quarter of the year, and aims to get the regulator's approval by summer, the report read.

"The idea is to be, if not the number one, one of the top three equity franchises in Europe," Gerardin said. "If we are not recognized as a top player in equities three or four years down the road, it will be disappointing," he added.

Related Links: BNP Banque Nationale de Paris Paribas S.A.
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